If you're in the market for a new Google Nexus 7 tablet, the rumored price cuts have been confirmed. Google has dropped the price of the 16GB version of the tablet to $199.

The 16GB version of the tablet was originally priced at $249, but the new 32GB version is now occupying that price point. It's unclear what will happen to the 8GB version of the tablet, but speculation suggests that it could see its price decreased to a low $99. However, even if Google were to be that generous, it would likely just maintain that price point until inventories of the 8GB model are cleared.